Home News GRDC to take part in auction on privatization of Lake Lisi neighboring territory

GRDC to take part in auction on privatization of Lake Lisi neighboring territory


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As Georgian Reconstruction and Development Company (GRDC) informs, the company decided to take part in privatizing auction on Lake Lisi (Tbilisi outskirt) neighboring territory. The company has already made an advance payment in the amount of $2.65 million.

The Ministry of Economic Development announced the auction in April 18; applications should be submitted to May 17. Area of about 370 ha is brought for privatization with starting price $26.5 million. The sum should be covered in 1 year. Investments should be no less than $25 million in 5 years.

GRDC mentions that it has been working on Lisi territory development project for 2 years already. The project, aiming building of balneology health resort, was presented to the government in February 2006.

GRDC already owns land plot in the area and holds 25-year license for the forest use for recreation and sports.

GRDC, member of TBC-Group, has been functioning since 2004. Total cost of companys projects makes up $80 million.

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